Search - consideration

MNR, 90 DTC 1059, [1990] 1 CTC 2165 (TCC)-- summary under Subparagraph 212(1)(d)(i) Summary Under Tax Topics- Income Tax Act- Section 212- Subsection 212(1)- Paragraph 212(1)(d)- Subparagraph 212(1)(d)(i) Payments which the taxpayer made to a non-resident joint venture arguably as the consideration for an exclusive distributorship, did not constitute amounts described in s. 212(1)(d)(i), but, rather, were capital payments. ...

The Queen, 94 DTC 1765, [1995] 1 CTC 2298 (TCC)-- summary under Paragraph 248(8)(a) Summary Under Tax Topics- Income Tax Act- Section 248- Subsection 248(8)- Paragraph 248(8)(a) Kempo TCJ. found (at p. 1769) that s. 248(8)(a) was added "to obviate the denial of a rollover in situations where an individual, qua beneficiary, acquired estate property upon payment of consideration to satisfy the terms of a testamentary condition or instrument". ...

The Queen, 2010 DTC 1016 [at at 2615], 2009 TCC 484 (Informal Procedure)-- summary under Class 14 Summary Under Tax Topics- Income Tax Regulations- Schedules- Schedule II- Class 14 A contract under which the taxpayer made a total contribution of $25,500 in consideration for a company agreeing to pay to the taxpayer 5.5% of the gross revenue from the operation of a lottery terminal in St. ...

., 99 DTC 905, [1999] 4 CTC 2468 (TCC)-- summary under Paragraph 251(1)(c) Summary Under Tax Topics- Income Tax Act- Section 251- Subsection 251(1)- Paragraph 251(1)(c) largely overlapping boards of directors and substantial minority interest A transfer by the taxpayer of its interest as lessor in mining concessions and railway rights-of-way to a corporation ("CJC") in which a subsidiary of the taxpayer had a beneficial 37% interest was found to be a non-arm's length transaction given that the boards of the taxpayer and CJC had mostly overlapping directors and that one of those directors had determined that the transfer should occur for consideration that was 20% less than the appraised value of the leasehold interest. ...

The Queen, 97 DTC 1, [1996] 1 CTC 2974 (TCC)-- summary under Subsection 129(1.2) Summary Under Tax Topics- Income Tax Act- Section 129- Subsection 129(1.2) The taxpayer, which was a prescribed qualifying corporation within the meaning of s. 186.2 was found to be not subject to s. 129(1.2) when it paid a dividend on its preferred shares to a prescribed venture capital corporation given that at that time it was not aware that the dividend would be received free of Part IV tax by the recipient and given that the corporate structure in question was created for the purpose of achieving extraordinary economic results rather than with a view to tax considerations. ...

The Queen, 94 DTC 1252, [1994] 1 CTC 2527 (TCC)-- summary under Paragraph 20(7)(a) Summary Under Tax Topics- Income Tax Act- Section 20- Subsection 20(7)- Paragraph 20(7)(a) A MURB project promoter who, at the time of sale of MURBs to investors by its subsidiary, received promissory notes of the investors in consideration for services to be provided by it over the following ten years, including using its best effort to find responsible tenants, arranging appropriate insurance, providing maintenance, filing documents and providing accounting services, was not precluded by s. 20(7) from deducting a reserve under s. 20(1)(m). ...

.$16.3 million that the taxpayer paid, at the same time that it purchased a business of the vendor, as consideration for the assignment to it of long-term supply contracts for feedstock, represented an expenditure on income account given that the particular expenditure was carefully segregated in a separate agreement and represented part of the operating cost to it of obtaining the feedstock. ...

The Queen, 2008 DTC 4982, 2007 TCC 647, aff'd, 2009 DTC 5940, 2008 FCA 419-- summary under Compensation Payments Summary Under Tax Topics- Income Tax Act- Section 9- Compensation Payments negotiated lump sum received for cancellation of non-compete was for diminution in value of goodwill A lump-sum payment received by the taxpayer in consideration for the cancellation of a non-compete covenant that had previously been given to it in connection with its acquisition of a business was a capital receipt given that the lump sum compensated it for a diminution in the market value of the goodwill that had been so acquired by it. ...

Expense- Financing Expenditures Advances which the taxpayer made to a corporation controlled by her spouse's company ("DRAAL") in consideration for a right to 20% of its annual profits (as a bonus) and to a distribution of 1/3 of the shares of an investment management company which was to manage a fund which DRAAL was unsuccessfully attempting to establish, were capital expenditures and, therefore, non-deductible. ...

Interest of 20% on a second loan of $10,000 to his brother in consideration for a promise to repay a total of $11,000 was non-deductible because the $1,000 interest income portion of the promised repayment was lower than the interest expense. ...